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The Virgin Corporate Story
Transcript of The Virgin Corporate Story
Value for money
Introduction to Virgin
British multinational branded venture capital conglomerate
Founded by Richard Branson and Nick Powell
Travel, entertainment & Style
Also ventures in financial services, healthcare, food & drink
More than 400 companies worldwide
Revenues of 15£ billion in 2012
Around 50,000 employees
History of Virgin
Branson and Powell considered themselves virgins in business
1960s- 17yr old Branson launches his first two businesses
1970s- first Virgin record store opens
1980s- Virgin games, balloons, holidays, atlantic
1990s- Virgin radio, bridal wear, cinemas
2000s- Virgin cars, trains, mobile
2010s- Virgin money, neckar island
Virgin's Corporate identity
Virgin logo- red, passion, move forward
Ultimate symbol- Richard Branson himself
Corporate culture- making a difference
Virgin stands for value for money, quality, innovation, fun and a sense of competitive challenge
Empowerment of employees
Facilitate and monitor customer feedback
Overall image of the corporation
Who are we? Where are we going?
Previously synonymous with logos, house style but now also with visual identity and corporate strategy
Corporate Identity vs corporate image
Sound the same but two different things
Corporate identity: how you want your business to look at target market
Corporate image: how the market really feels about you
Branson's secret of Virgin
Leading international investment group
Each company operates separately
Branson serves as a shareholder, chairman &public relations supremo
Organization with a keiretsu structure
Growth of the Virgin Group
Excellent management principles rather than acquisition
Something better, fresher and valuable
Endorses a new product only if meets 4/5 criterias are met
Innovative? Challenge authority?
Offer value for money? Good quality?
Hard research and analysis
Put in customer's shoes
Is this an opportunity for restructuring a market?
What are the competitors doing?
Can we add value?
Joint ventures and mergers
Maintain majority share
Empowerment of employees
Minimal management layers
Part of a family rather than a hierarchy
Shared ideas, values and goals
Flat heirarchical structure
Corporate Social Responsibility
Flying High -Virgin Atlantic
We're all going on a summer holiday - Virgin Holidays
Getting from A to B - Virgin Trains
Watching the money - Virgin Money, Virgin Green Fund
relax and have fun - Virgin media, Virgin books
Virgin Unite, Virgin Green fund, Virgin Earth Challenge
Across platforms such as google and facebook
Dual notion of creating value for money and having fun
Transparency and trust
Relevant and appealing
Good workplace environment
Success attributed to personality of Sir Richard Branson